London Presentation November 2019, page-20

If successful I see no problems with raising Capital, they might not even have to, because if successful they can farm down further.

In the success case 5% of the remaining 30% is worth a lot of money........so they could easily farm down further for a free carry of 2020 drilling and seismic.

Whats more valuable to shareholders ? Issuing more equity and so diluting ? or giving up another 5% or 10% of proven oil for a free carry to production ?

All in all, in the success case they will be bombarded with offers of money - I hope they choose to not place shares but to farm down further. 20% of something very big is better than having 30% after having a 50% dilution............ see what I mean